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GBP/USD remains pressured at 1.6000

Unchanged since last updates just above 1.6000, the pair has been moving in a 100 pips range on Tuesday, unable to regain the upside despite oversold conditions seen over the last few sessions.

“Hourly chart shows indicators mostly flat with no clear signs for current Asian session, while 4 hours one shows price still below a strongly bearish 20 SMA around 1.6040, also static resistance level. Unless a clear confirmation above this last, risk on the pair remains to the downside” said Valeria Bednarik, Chief Analyst at FXstreet.com